Continuing to read Schumpeter’s Capitalism, Socialism, and Democracy(1942) As I mentioned in a previous post, I was surprised to find that, in a book I thought would tell me about the currently prevailing theory of platform monopoly and competition, Schumpeter’s first few chapters are devoted entirely to a consideration of Karl Marx.
Schumpeter’s treatment of Marx is the epitome of respectful disagreement. Each chapter in his treatment, “Marx the Prophet”, “Marx the Sociologist”, “Marx the Economist”, and “Marx the Teacher”, is brimming with praise and reverence for the intellectual accomplishments of Marx. Schumpeter is particularly sensitive to the value of Marx’s contributions in their historical context: they exceeded what came before it and introduced many critical new ideas and questions.
Contextualizing it thus, Schumpeter then engages in a deep intellectual critique of Marx, pointing out many inconsistencies and omissions of the doctrine and of the contemporary Marxist or Marxian…
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Utopia, you are standing in it! 
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